Vornado Realty Trust & Trump Organization Refinance $950M Loan For Midtown Office Building
FINANCED
$950,000,000
New York
See Similar DealsOffice1,899,211 SF
Financed 11/19/2021
FINANCED
Vornado Realty Trust & Trump Organization Refinance $950M Loan For Midtown Office Building
1290 Avenue of the Americas, New York, NY 10019
See Similar DealsOffice1,899,211 SF
Financed 11/19/2021
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$500
Total Square Footage:1,899,211 SF
Transaction Type:Loan
1290 Avenue of the Americas, located in Midtown, is an office property that recently underwent a loan refinance transaction. The property is jointly owned by Vornado Realty Trust and The Trump Organization.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $950,000,000
- Loan Type: Refinance
- Loan Terms: 7-year, interest only
The key individuals involved in this transaction include Donald Trump Jr., Ivanka Trump, Eric Trump, President Donald J. Trump, Steven Roth, and Haim Chera. The loan, amounting to $950,000,000, was a refinancing deal that allowed the property owners to modify the terms of the loan, specifically for a 7-year period with interest-only payments.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$950,000,000.00
Monthly NOI$6,333,333.33
Monthly Debt Service$6,004,646.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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